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Delayed report on former KPMG employees to be released soon

May 29 2018 20:41
Ntaoleng Lechela

Johannesburg – The Ntsebeza inquiry is set to release its report on members of the South African Institute of Chartered Accountants (SAICA) who may have contravened its professional code of conduct while employed at KPMG.

Advocate Dumisa Ntsebeza, chairperson of the inquiry, says the report will be released by the end of June.

The inquiry, which was originally intended to wrap up in April 2018, has faced multiple delays and obstacles. It was launched by SAICA in November 2017.

Most recently, it was reported that SAICA was unable to investigate individuals who were not members of its organisation.  

Earlier, there the inquiry had been delayed due to "requests by various parties for extensions to the submission period, legal arguments as well as the availability of relevant parties".

The panel also struggled to acquire the South African Revenue Service 'rogue unit' report from KPMG, as reported by Fin24. It eventually succeeded.

Ntsebeza said the panel would review all submissions received, not only submissions by the 'rogue unit', or the KPMG audits on Gupta-linked entities. The report will also not only consider submissions made to the inquiry, but will also review media reports.

The panel made it clear that the inquiry would not be used as a disciplinary process, but the findings would be able to assist in disciplinary hearings.

Ntsebeza said the panel did not receive full cooperation from all parties involved.

"Although we had great cooperation from many, in some instances we were disappointed by the lack of understanding of our role," he said.

The inquiry was established specifically to investigate the conduct of current and former members of SAICA employed by KPMG from January 2013 onward.

Besides Ntsebeza, the panel includes Dr Claudelle von Eck, Freeman Nomvalo, Vuyani Ngalwana, and Malcolm Johnston.

"We are hoping that our report will assist the profession in its self-reflection and will illuminate areas where corrective action is needed," said Ntsebeza.

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saica  |  kpmg  |  sars  |  accounting  |  ca
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